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Pangea3 Dedicates Taskforce to Mortgage-Backed Securities ("MBS") Document Review

Sep 01, 2011 (04:09 PM EDT)
URL: http://www.techweb.com/show-press-release/X862845/pangea3-dedicates-taskforce-to-mortgage-backed-securities-mbs-document-review.html

Team of highly specialized securities litigators support clients in reducing risks, burdens and costs related to MBS-related document review

NEW YORK, Sept. 1, 2011 /PRNewswire/ -- Pangea3, a Thomson Reuters business, the most experienced provider of high-quality outsourced legal solutions to the world's most respected companies and law firms, has established a taskforce dedicated to Mortgage-Backed Securities-related document review. As the preferred document review provider for many of the largest international banks, the Pangea3 Mortgage-Backed Securities Taskforce will provide clients with unsurpassed experience, acquired first-hand through work on dozens of MBS-related litigation and investigations.

The Pangea3 Mortgage-Backed Securities Taskforce is spearheaded by senior U.S. litigators with experience managing complex securities litigation at the nation's top law firms and is supported by over 200 full-time attorneys.  Since 2010, members of the Taskforce have conducted well over 200,000 hours of review in MBS-related litigations and investigations, as well as over 100,000 hours of review in other complex financial matters.  Through this experience, each member of the Taskforce has developed a deep understanding of the financial services industry generally, and, more importantly, is familiar with the legal structures and terminology unique to MBS-related documents.  Relevant experience includes matters involving:

  • Mortgage-backed securities;
  • Short-term asset backed commercial paper;
  • Allegations of improper short selling/securities trades;
  • Breaches of financial services contract and fiduciary duties;
  • Structure products, including credit default and total return swaps;
  • Complex tax products;
  • U.S. Department of Justice, SEC and IRS investigations;
  • Investigations by non-U.S. governmental bodies; and
  • Internal investigations.

"The surge in private Mortgage-Backed Securities lawsuits, and the sheer volume of associated documents to review, has overwhelmed in-house counsel and their outside law firms," says Greg McPolin, Vice President & Managing Director, Global Litigation Solutions. "We have listened and responded to the needs of our clients and the legal industry by dedicating a team of attorneys experienced at working hand-in-glove with top outside counsel to provide efficient and cost-effective MBS-document review, while reducing risk."

To learn more about Pangea3's MBS Taskforce, please visit http://www.pangea3.com/mortgage-backed-securities-taskforce.html or call (212) 689-3819.

About Pangea3

Pangea3, a Thomson Reuters business, is the most experienced provider of high-quality outsourced legal solutions to the world's most respected companies and law firms. Since 2004, Pangea3 has offered under one roof the most comprehensive suite of legal solutions including corporate, litigation, compliance and IP-related services to hundreds of clients around the globe.

Combining legal DNA, award-winning services and process expertise with Thomson Reuters' intelligent information, tools and platforms, Pangea3 delivers intelligent legal outsourcing solutions that improve clients' efficiency, extend their capacity and provide cost and timeline certainty. Pangea3 is seen as the world standard in the LPO marketplace, which is growing at more than 20 percent annually and projected to exceed U.S. $1 billion this year. For more information about Pangea3, visit http://www.pangea3.com.

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs 55,000 people and operates in more than 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, go to http://www.thomsonreuters.com.

SOURCE Pangea3